Shares in Kogan.com jumped after the online retailer released its latest cash flow numbers showing strong trading.
At the close, they were up 5.8% to $2.17, well ahead of its $1.80 IPO price of 12 months ago.
For the June quarter, the company closed with cash of $32 million and reported “strong trading momentum”.
“We are pleased to deliver cash flows that demonstrate better than forecast operating results for Kogan.com’s fourth quarter of trading as a listed company,” says founder and CEO Ruslan Kogan.
“We have closed out our first financial year as a listed company with strong trading momentum, and some very exciting growth opportunities. We look forward to continuing this trend into FY18 and beyond.”
Kogan.com shares dipped on its ASX-listing in July last year but have been rising this year as the company reports better than expected progress against its prospectus.
In May, the online retailing pioneer upped its earnings guidance.
Kogan.com now expects full year EBITDA (earnings before interest, tax, depreciation and amortisation) to be more than $11.5 million, up from previous guidance of between $10.5 million and $11.5 million.
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